New York, United States
Candex, founded in 2011 and headquartered in the United States, positions itself as a transformative player in the fintech and cloud infrastructure sectors, specifically targeting the optimized management of supplier payments for large organizations. They tackle the complexities of engaging, tracking, and paying one-time, irregular suppliers, operating on a global scale to handle the setup, support, tax, and regulatory challenges smoothly.
Their service seamlessly integrates with existing e-procurement systems, utilizing API capabilities and bulk uploads, ensuring that even low-risk suppliers needing only 3-5% of a company's spend are efficiently covered by their "No PO, No Pay" policy. Candex achieved significant milestones with a $45.00M Series B round on November 28, 2023, backed by reputable investors such as American Express Ventures, Craft Ventures, and Goldman Sachs Asset Management, signaling strong confidence in its innovative solutions and growth trajectory.
